AQR Capital Management LLC Has $17.43 Million Position in Valaris Limited (NYSE:VAL)

AQR Capital Management LLC lifted its position in Valaris Limited (NYSE:VAL) by 338.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,379 shares of the company’s stock after acquiring an additional 182,467 shares during the period. AQR Capital Management LLC owned approximately 0.33% of Valaris worth $17,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of VAL. Marshall Wace LLP raised its stake in Valaris by 5.9% during the 2nd quarter. Marshall Wace LLP now owns 1,882,846 shares of the company’s stock worth $140,272,000 after buying an additional 105,330 shares during the period. Interval Partners LP bought a new stake in shares of Valaris in the second quarter worth about $1,313,000. Evergreen Capital Management LLC acquired a new stake in shares of Valaris during the second quarter worth about $204,000. Symmetry Investments LP bought a new position in shares of Valaris during the 2nd quarter valued at about $4,782,000. Finally, Huber Capital Management LLC grew its position in shares of Valaris by 15.9% in the 2nd quarter. Huber Capital Management LLC now owns 13,100 shares of the company’s stock valued at $976,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 96.74% of the company’s stock.

Insider Buying and Selling

In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $55.77, for a total value of $1,450,020.00. Following the completion of the sale, the senior vice president now owns 24,388 shares in the company, valued at $1,360,118.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Valaris news, SVP Matthew Lyne sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the transaction, the senior vice president now owns 24,388 shares of the company’s stock, valued at $1,360,118.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Davor Vukadin sold 15,403 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the completion of the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at $755,237.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,403 shares of company stock worth $4,028,246. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VAL. Benchmark restated a “buy” rating and set a $90.00 target price on shares of Valaris in a report on Monday, August 5th. Citigroup cut their price objective on shares of Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Barclays cut their price target on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Susquehanna assumed coverage on Valaris in a report on Tuesday, September 24th. They set a “neutral” rating and a $62.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.50.

Valaris Price Performance

Shares of NYSE VAL opened at $55.67 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The business has a 50-day moving average of $61.91 and a 200-day moving average of $69.18. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 4.87 and a beta of 1.17. Valaris Limited has a fifty-two week low of $53.06 and a fifty-two week high of $84.20.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. As a group, sell-side analysts predict that Valaris Limited will post 4.37 earnings per share for the current fiscal year.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.